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Sydney Metro, Apple x Meta & Armaguard's Bailout
Global coffee prices could potentially rise as Vietnamese coffee growers face drought impacts.
Pick & Scroll News
June 25, 2024
One Read, All Perspectives
Australian News
Traders are shorting Australia's biggest bank, betting on a price drop after a 30% rise in CBA shares over the past year. LINK
AI is helping scammers become more convincing, making it harder for banks and authorities to detect fraudulent activities. LINK
Migrants face challenges accessing renewable energy benefits due to cultural and language barriers. LINK
Sydney Metro will open in August 2024, providing a direct train line from northwest Sydney to the CBD. LINK
Consultants face a tough job market with high competition for transformation and strategy roles due to sector-wide cost cuts. LINK
Australian households save less than their global peers due to mortgage repayments and tax bracket creep eating into disposable incomes. LINK
Aussie dollar gains against the euro amid French political turmoil are benefitting Australian travellers to Europe. LINK.
Nurses' union urges NSW government to unlock Commonwealth funding for a 15% pay rise. LINK
Federal government to impose fines on large supermarkets for mistreating suppliers. LINK
Global News
Company News
Telstra replaces EY with Deloitte as its auditor to leverage digital technology and improve governance. LINK
Cleanaway’s acquisition of Citywide's waste business may face scrutiny from the ACCC due to reduced competition. LINK
Star Entertainment faces declining premium gaming revenue and ongoing regulatory scrutiny, impacting its earnings. LINK
Woolworths calls for greater transparency in fruit and vegetable pricing to ensure fair payments to farmers. LINK
Cettire shares dropped 50% after a profit downgrade, citing a challenging luxury goods market and increased discounting. LINK
Myer made a bid to acquire several brands from Premier Investments as part of a strategic review, aiming to create a $4B retail giant and enhance its loyalty program. LINK
Metcash reported $282.3M underlying profit, noting that consumers are shifting to smaller, frequent shopping trips and private labels due to cost-of-living pressures. LINK
Metcash’s food division has performed well despite economic pressures, but its Total Tools business suffers from the housing construction downturn. LINK
Armaguard received a $50M bailout from major banks and retailers to maintain cash transport services for the next year. LINK
Nine Entertainment's harassment and bullying review has been overwhelmed with complaints from current and former employees. LINK
Apple and Meta have discussed integrating Meta's generative AI model into Apple's devices to enhance AI capabilities and leverage Apple's vast distribution network. LINK
Nvidia's shares have surged over 1,000% since October 2022, with many considering whether to cash in or hold on for more gains. LINK
The EU will take further action against Apple for not complying with the Digital Markets Act, accusing it of stifling innovation. LINK
The US Department of Justice plans to sue TikTok over children's privacy violations, based on an FTC investigation. LINK
New Zealand's Stuff media outlet shifts to "kinder" news as more Kiwis are avoiding divisive content. LINK
This Week’s Top Picks
KMD Brands, owner of Rip Curl and Kathmandu, warns of worse-than-expected winter sales, with earnings expected to fall 53% in the year to July 31. LINK
Vladimir Putin has signed deals with Vietnam to supply fossil fuels and enhance cooperation in various sectors during his visit. LINK
Wholesale gas prices in Sydney and Melbourne have surged to their highest in more than a year, raising fears of a shortage this winter. LINK
Japan's tourist hotspots are introducing 2-tiered pricing systems, charging tourists more than locals as the weak yen drives a surge in visitors. LINK
